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Quarterly Report For The Financial Period Ended 31 March 2017

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Condensed Consolidated Statement Of Profit And Loss And Other Comprehensive Income
For The Quarter And Three Months Ended 31 March 2017

Condensed Consolidated Statement Of Financial Position
As At 31 March 2017

Review of Performance

Comparison between Current Financial Quarter Ended 31 March 2017 and Previous Corresponding Quarter Ended 31 March 2016

A summary of the Group's performance is set out below:-

Technical Assembly Services Division

There were no orders in the current quarter ended 31 March 2017.

Surface Treatment & Precision Cleaning Division

Revenue for the current quarter increase as compared to the preceding year corresponding quarter mainly due to increase across all surface treatment and precision cleaning services which more than offset for the decline in Cassette washing services. Gross profit margin increased from 16.34% to 24.50% in the current quarter mainly due to the change in product mix which has a greater gross profit contribution from the higher margin Cleanroom assembly services and less of the lower margin Cassette washing services.

Administrative expenses has increased by RM785,000 mainly due to increase in indirect staff cost and legal fees.

Overall, the Group reported a loss before tax of RM0.52 million as compared to a loss before tax of RM1.56 million in the previous year corresponding quarter.

Material Changes in the Quarterly Results as Compared with the Immediate Preceding Quarter

Technical Assembly Services Division

There were no orders in the current quarter ended 31 March 2017.

Surface Treatment & Precision Cleaning Division

The Group's revenue from Surface Treatment & Precision Cleaning for current financial quarter has decreased by 15.91% as compared to the immediate preceding quarter. The decrease in sales is mainly due to decrease across all surface treatment and precision cleaning services.

Gross profit margin for the surface treatment and precision cleaning division decreased from 30.26% to 24.50% mainly due to higher material cost and lower economies of scale as a result of lower demand.

Overall, the Group registered a loss before tax of RM0.52 million as compared to a profit before tax of RM2.42 million in the immediate preceding quarter which included a one-off profit guarantee compensation of RM1.27 million.

Future Prospects

We expect continual stable demand for our services especially from the Hard Disk Drive Industry.

Our expansion plan for two new operating base are on track for commencement towards the 4th quarter of 2017. We expect these investments to contribute positively to the Group's revenue and result from the next financial year.

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